Grab said it plans to use funds to build more daily services on the platform and expand its presence in financial services, food delivery, package delivery, content and digital payments.
"This investment will help the company explore exciting new opportunities for on-demand mobility, delivery and financial services as it continues to grow its offline-to-web platform across Southeast Asia," said David Thevenon, partner at SoftBank Investment Advisers. , in a statement.
While Grab started With riders, the start-up over time has introduced many services, including food and grocery, mobile payments, and micro-lending to unbanked or under-banned in Southeast Asia. Earlier this year, the company said it partnered with regional video startup boot Hooq that will allow users to stream movies and TV shows on the Grab app.
The idea of combining multiple services into a single app derives from the fact that users tend to use only a handful of applications each day, even if they may have hundreds of apps downloaded on smartphones.
Last year, Grab said it was a joint venture with Chinese flat form of healthcare Ping An Good Doctor to provide integrated medical services, including artificial intelligence-assisted online consultation, appointment orders and medicine delivery.